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Personality Psychology and Economics

Listed author(s):
  • Almlund, Mathilde
  • Duckworth, Angela Lee
  • Heckman, James
  • Kautz, Tim

This chapter explores the power of personality traits both as predictors and as causes of academic and economic success, health, and criminal activity. Measured personality is interpreted as a construct derived from an economic model of preferences, constraints, and information. Evidence is reviewed about the “situational specificity†of personality traits and preferences. An extreme version of the situationist view claims that there are no stable personality traits or preference parameters that persons carry across different situations. Those who hold this view claim that personality psychology has little relevance for economics.

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This chapter was published in:
  • Erik Hanushek & Stephen Machin & Ludger Woessmann (ed.), 2011. "Handbook of the Economics of Education," Handbook of the Economics of Education, Elsevier, edition 1, volume 4, number 4, June.
  • This item is provided by Elsevier in its series Handbook of the Economics of Education with number 4-1.
    Handle: RePEc:eee:educhp:4-1
    DOI: 10.1016/B978-0-444-53444-6.00001-8
    Contact details of provider: Web page: http://www.elsevierdirect.com/product.jsp?isbn=9780444513991

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